Link Group extends its European operation with the acquisition of Capita Asset Services

Link Group extends its European operation with the acquisition of Capita Asset Services

Link Group (ASX: LNK) has completed its acquisition of London headquartered Capita Asset Services (CAS) from Capita plc.

The acquisition of Capita Asset Services is a strong strategic fit and is in line with Link Group’s strategy to grow through further penetration of attractive markets and expand its product and regional capabilities and in particular extending the European operating platform.

Link Group is a market-leading provider of technology-enabled solutions in financial and corporate markets. The company is listed on the Australian Securities Exchange with a market capitalisation of approximately AUD $4billion and is included in the S&P/ASX100.

Following the acquisition of CAS, Link Group now operates in 17 jurisdictions worldwide, has annual revenue of over £750m* and employs more than 7000 industry specialists. Globally, it has more than £600bn of assets under administration, services 35 million individual shareholders and manages 45 million financial records.

“In CAS, we have acquired a business with leading market positions across its fund, corporate and private client, shareholder and banking and debt service lines. The business has longstanding customer relationships, operating in growth markets. The business, renamed as Link Asset Services, is highly complementary to Link Group and represents an attractive platform for further expansion in the UK and European markets.” John McMurtrie Link Group Managing Director

Anthony O’Keeffe, CEO of Link Group’s new Link Asset Services division commented: “We are delighted to be part of Link Group, a forward-thinking company committed to delivering enhanced client value through ongoing investment in technology, people and processes. This, coupled with new complementary and supplementary capabilities and a broader international reach, puts us in an excellent position to continue to develop our strong partnerships with our clients.”

Mr McMurtrie added: “With this acquisition, Link Group is now a truly international company with expanded opportunities for further growth. We are genuinely excited by the opportunities for the expanded Link Group, our new clients and new colleagues.”

* Combined revenue of Link Group and CAS for 12 months ending 30 June 2017